Transport Update

Ashoka to secure debt for highway project in Oct

October 2011

Ashoka Buildcon is expected to achieve financial closure by Oct for its Rs 2,200 crore highway project that includes six-laning of an 111 km stretch on NH 6 between Dhankuni in Uttar Pradesh and Kharagpur in West Bengal.The debt equity ratio for the project will be either 70:30 or 70:25, with the debt component working out to Rs 1,540 crore or Rs 1,650 crore for 15 years at an interest rate of 12-12.5 per cent. Ashoka has 18 operational build-operate-transfer (BOT) roads, of which only one is a national highway.

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